Trend Trigger Factor w/ Discontinued Signal Lines [Loxx]

Trend Trigger Factor w/ Discontinued Signal Lines is a Trend Trigger Factor indicator with floating boundary lines to identify trends earlier

What is the Trend Trigger Factor?
Designed by M.H. Pee, the Trend Trigger Factors role is to help traders detect uptrends and downtrends and thus allow them to better position themselves in a with-trend manner. Its creator argues that the markets are mostly random but have a small trend component, which is the most crucial part of trading success. Being able to determine whether the market is in a bull or bear trend and how strong that trend is will allow you to be on the right side of the market for longer, capitalizing as much as possible on its trending behavior.

In his article, M.H. Pee used a 15-period trackback span to explain the calculations. The TTF formula is based on the so-called Buy Power and Sell Power. In his example, Pee labeled today as day 1, yesterday as day 2, the preceding day as day 3 and so on

What's new in this indicator?
  • Averages filter out prices prior to being used in calculation. That way the lag added is smaller than when the smoothing is used on the calculated result.
  • Unlike the original which uses levels +100 and -100 as significant levels for signal triggering, this version is using discontinued signal lines for trend filtering. That way it makes it a bit more responsive to market conditions

How do I use this?

The Trend Trigger Factor is similar in interpretation to the Relative Strength Index . It is plotted on a scale with most prominent levels at +100 and -100, crosses of which logically signal possible trade entries. The difference here, however, is that the upper and lower boundary flex with price movements so the upper and lower boundary shift dynamically. Crosses above the top line signify bullish sentiment, crossed below the the bottom line signify bearish sentiment.

نص برمجي مفتوح المصدر

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